Enova Comments on CFPB Small Dollar Rule; Expresses Confidence in Business, Has Concerns About Restrictions on Access to Credit for Millions

CHICAGO, Oct. 6, 2017 /PRNewswire/ -- Enova International, Inc. (NYSE: ENVA), a leading financial technology company offering consumer and small business loans and financing, has completed a preliminary assessment of the Small Dollar Rule released yesterday by the Consumer Financial Protection Bureau (CFPB).

Over the past several years, Enova has rapidly diversified its product offerings to meet consumer preferences for credit. After reviewing the final rule, the company anticipates that if it is implemented without additional changes, products that today comprise approximately 15% to 20% of its second quarter 2017 total revenue will be subject to the short-term loan specific portions of the rule. Domestic products that represent an additional 50% to 55% of revenue may be subject to the changes to the payment pre-authorization process. Enova estimates that revenue for the impacted products would experience less than a 10% decline from current levels. This initial assessment does not take into account potential offsets from changes in the competitive landscape as a result of the final rule, any changes in state regulation or Enova's ongoing diversification efforts.

"We are confident in our ability to successfully adapt to these new regulations," said David Fisher, Enova's CEO. "Our technology and experience provide us with a measurable advantage as we take the steps needed to ensure our U.S. consumer products comply with this new regulation. We've worked diligently to diversify our business, which has created significant growth in our installment and line of credit products, resulting in reduced exposure to this rule. We've seen very strong demand in our longer-term products offered by NetCredit, renewed growth in our U.K. business, success in building our small business and Brazil offerings, and good customer interest in Enova Decisions, our Analytics as a Service offering."

"We believe all Americans deserve access to credit, we fully support fact-based regulations and we applaud efforts to remove bad actors from the industry," said Fisher. "We continue to be concerned about efforts that may unduly restrict American's access to credit or become overly burdensome to consumers. We welcome the opportunity to partner with the government to protect consumers, and we will work hard between now and when the rule takes effect to ensure we are able to continue our mission to responsibly serve the millions of hardworking people who need and deserve access to credit."

About EnovaEnova (NYSE: ENVA) is a leading provider of online financial services to non-prime consumers and small businesses, providing access to credit powered by its advanced analytics, innovative technology, and world-class online platform and services. Enova has provided almost 5 million customers around the globe access to more than $20 billion in loans and financing. The financial technology company has a portfolio of trusted brands serving consumers, including CashNetUSA®, NetCredit®, On Stride Financial®, Pounds to Pocket®, QuickQuid® and Simplic®; two brands serving small businesses, Headway Capital® and The Business Backer®; and offers online lending platform services to lenders. Through its Enova Decisions(TM) brand, it also delivers on-demand decision-making technology and real-time predictive analytics services to clients. You can learn more about the company and its brands at www.enova.com.

Cautionary Information Regarding Forward-Looking StatementsThis press release contains forward-looking statements within the meaning of within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934 about the business, financial condition and prospects of Enova. These forward-looking statements give current expectations or forecasts of future events and reflect the views and assumptions of Enova's senior management with respect to the business, financial condition and prospects of Enova as of the date of this release and are not guarantees of future performance. The actual results of Enova could differ materially from those indicated by such forward-looking statements because of various risks and uncertainties applicable to Enova's business, including, without limitation, those risks and uncertainties indicated in Enova's filings with the Securities and Exchange Commission ("SEC"), including its annual report on Form 10-K, quarterly reports on Forms 10-Q and current reports on Forms 8-K. These risks and uncertainties are beyond the ability of Enova to control, and, in many cases, Enova cannot predict all of the risks and uncertainties that could cause its actual results to differ materially from those indicated by the forward-looking statements. When used in this release, the words "believes," "estimates," "plans," "expects," "anticipates" and similar expressions or variations as they relate to Enova or its management are intended to identify forward-looking statements. Enova cautions you not to put undue reliance on these statements. Enova disclaims any intention or obligation to update or revise any forward-looking statements after the date of this release.